Asked by Conner Morgan on Jul 09, 2024

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President Bush has seen the surpluses of 2001

A) increase to higher levels.
B) become massive deficits.
C) balance the budget.
D) reduce slightly.

Massive Deficits

Significantly large shortfalls where government expenditures exceed revenue.

Surpluses

Situations in which the quantity of a product or service supplied exceeds the quantity demanded, or when revenues exceed expenditures in a budget.

  • Analyze the impact of historical economic policies and changes in budget surpluses or deficits.
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Verified Answer

AP
Ashley Phillips

1 week ago

Final Answer :
B
Explanation :
The surpluses of 2001 turned into massive deficits during President Bush's tenure, largely due to tax cuts, increased military spending, and other policy decisions.